A hotel in Rothbury has been sold to new owners, one month after the business fell into liquidation.
On behalf of North-East liquidators, Northpoint, Christie + Co has completed on the sale of The Coquetvale Hotel, which gained ‘tremendous’ interest from a range of buyers, to Kay Henry, an experienced hospitality and leisure operator.
The 14-bedroom hotel closed in December, when the trading company, thought to be Vivid Hotels, entered liquidation.
In early 2021, Christie & Co’s Hospitality team marketed the business at £425,000 and was inundated with enquiries, culminating in a best and final offer scenario and a number of excellent cash offers.
New owner, Henry said: “Our key priority is to engage more with local trade and look to offer better value for money food, while still retaining the excellent standard of produce. We also have plans to convert the existing ground floor owners flat into the original bar and make better use of the wonderful exterior space, and to hold barbecue evenings on the decked terrace.
“We feel that the wedding trade has been historically low and therefore we will be actively marketing the hotel as a boutique wedding venue as well as a lovely country getaway.”
The Coquetvale Hotel comprises 14 bedrooms, a bar and restaurant, plus private dining room, ceremony room and sun terrace. The previous owners recently completed a significant refurbishment.
The hotel was originally built in the 1870s by Lord William 1st Baron Armstrong.
Mark Worley, Director in Christie & Co’s Hospitality team handled the sale and comments, “Despite being closed and in liquidation, the interest in this hotel was tremendous and is indicative of the current demand for tourism and leisure-led hotels and hospitality businesses ahead of the 2021 summer season, when we expect to see the UK staycation boom continue.”